Established : 2005 (MDI status)

I&P's investment : 22,8 % equity stake

Loan outstanding at end-2008: 7,689 million €

UFT is a “Microfinance Deposit-Taking Institution (MDI)”, a quasi-banking legal status required in Uganda for savings deposit-taking micro finance institutions. It has a network of 25 branches, including five in the capital.

Microfinance in Uganda is highly developed. There is strong competition between lenders, putting pressure on each institution to improve the quality of its service offering and diversify its target customer base.

UFT is one of the country’s four largest microfinance institutions, with the strongest local branch presence outside the capital. It has 17,500 borrowers and more than 100,000 savers. The average loan exposure is 670 euros, with a 6-month maturity.

UFT maintained steady growth in 2009, both in deposits and lending activity, with very good repayment rates. It is now working on the introduction of new products (agricultural micro loans, specific savings products etc.)